The court allowed to transfer the remaining shares of Ignitis Gamyba to Ignitis Group
AB “Ignitis grupė” (hereinafter – the Company) informs that on 27 August 2021 the Vilnius District Court (hereinafter – the Court) made a decision to approve the Company’s statement on the establishment and recognition of a fact of legal significance that the right of ownership of 574,803 units of ordinary nominal shares of its subsidiary AB “Ignitis gamyba” (hereinafter – Ignitis Gamyba), which belonged to the deceased shareholders of Ignitis Gamyba and which were not transferred during the mandatory buyout, must be transferred to the Company and obliged the shares accounts managers to make records of the transfer of the rights of ownership to the Company.
The Company believes that the Court’s decision is lawful and reasonable and that it fully complies with the requirements of legal acts. The Court allowed the decision to be enforced urgently, however, the Court’s decision may be appealed within 30 days from the moment of its adoption.
It must be noted that the Court has divided the Company’s statement earlier into two separate cases – a case where the stakeholders are the deceased shareholders of Ignitis Gamyba and a case where the stakeholders are all the remaining shareholders of Ignitis Gamyba. The Court decision is related only to Ignitis Gamyba shares, the owners of which were identified as deceased. Surnames of the persons who owned shares in respect of which the Court made the decision can be found in the specialised website www.teismai.lt, in a court notice section https://pranesimai.teismai.lt/teismu_pranesimai/.
As the Company announced earlier, on 30 April 2021 the Court had already made a decision in the case where the shareholders of Ignitis Gamyba were not identified as deceased to approve the Company’s statement on the establishment and recognition of a fact of legal significance that 11,113,442 units out of 11,688,245 units of unsold shares during the mandatory buyout of shares of its subsidiary Ignitis Gamyba are the property of the Company and obliged the shares accounts managers to make records of the transfer of the rights of ownership to the Company (link). The aforementioned Court decision has already been enforced and is effective.
After the enforcement of the Court decision of 27 August 2021 the Company will obtain 100% of Ignitis Gamyba’s shares
Settlement with minority shareholders
Considering the fact that the Court allowed the decision to be enforced urgently, the payment to shareholders will be initiated immediately, without waiting for the decision to take effect. Ignitis Gamyba minority shareholders (their legal successors) who are the participants of this case and who are holding shares in private accounts will be transferred money for the shares by their shares accounts managers on 9 September 2021.
Those shareholders who hold shares in the issuer’s accounts must contact SEB bank from 9 September 2021 and make a free form request:
- SEB bank clients could do that at SEB bank branches or at SEB internet bank. It should be indicated which company’s shares must be paid for and the number of the private account to which the money should be transferred
- Non-SEB bank customers can submit a request to transfer the money for the shares by booking a meeting time at a SEB bank’s branch in advance. Persons must have an identity document at the time of the visit
We remind you that the settlement price per one Ignitis Gamyba’s share is equal to EUR 0.64. Funds for the shares will be kept in the deposit account until the final settlement with all shareholders, i.e., there is no final date when the shareholders must apply for the settlement for the shares.
More information in case of extra questions
All relevant information about the process of the case and answers to frequently asked questions will be available on the websites of the Company (link) and Ignitis Gamyba (link).
Should you have additional questions, please contact:
1. Regarding the payment for shares:
- to shareholders who hold Ignitis Gamyba’s shares in their personal securities account – your securities brokerage
- to shareholders who hold Ignitis Gamyba’s shares in the issuer’s accounts – SEB bank (Tel. +370 5 268 2800)
2. Other inquiries:
For additional information please contact
+370 610 33297
+370 643 14925